Mr. Jean-Sebastien David reports

NIOBAY ANNOUNCES ELECTION OF DIRECTORS

Niobay Metals Inc. is releasing the results of its annual general meeting of shareholders held on June 16, 2026.

Shareholders holding a total of 64,776,173 common shares of the company attended the AGM in person or were represented by proxy, representing over 34.6 per cent of 187,313,490 common shares issued and outstanding.

Jean-Sebastien David, Josianne Beaudry, Laurence Farmer, Raymond Legault, Bruno Di Battista and Serge Savard were elected to the board of directors. The shareholders also reappointed PricewaterhouseCoopers, LLP as auditors for the ensuing financial year and reapproved the company's rolling stock option plan.

Following the AGM, the company approved the grant of an aggregate of 1,415,000 incentive stock options to directors, officers, employees and consultants of the company. One-third of the stock options granted will vest immediately and the remaining stock options granted are subject to a two year vesting period. All grants have a seven-year term at an exercise price of 095. The stock options have been granted pursuant to the company's stock option plan and are subject to applicable securities laws and TSX Venture Exchange policies.

About Niobay Metals Inc.

Niobay aims to become a leader in the development of mines with low-carbon consumption and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance and the inclusion of all stakeholders.

We seek Safe Harbor.